British Metal Hammer magazine saved from closure
10 January 2017
Facing extinction following the late-December bankruptcy of publisher TeamRock, venerable magazine Metal Hammer will remain in business via Future Publishing, which has acquired Metal Hammer, Classic Rock and Prog magazines.
According to The Guardian, the roughly $1 million (£800,000) deal includes the magazines, events, and license for the Team Rock digital radio service.
"The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy," said Zillah Byng-Thorne, chief executive of Future.
Regarding staff, The Guardian says this: "Only a handful of staff have been guaranteed jobs in the transition of the TeamRock business, handled by administrators FRP Advisory, although ongoing negotiations could allow more move to Future."
Interestingly, it was Future that sold Metal Hammer along with several other titles to TeamRock in 2013 for more than $12 million.
Source: lambgoat.com
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